Europe’s battered financial sector is showing further signs of healing and the European Central Bank’s raft of different policy measures are contributing to this, a key ECB survey showed on Tuesday.
The ECB said its quarterly bank lending survey showed that banks are easing credit standards for loans to enterprises, an encouraging sign, since the chronic weakness of credit activity in the euro area has previously been blamed for the absence of any noticeable recovery in the 19 countries that share the single currency.
As banks around the world experience various stages of recovery, many are working toward getting back to normal – or at least to a new normal. As part of this recovery phase, more banks are increasing their emphasis on loans and other products. Contributing to this movement is the efficiencies made available with technology and process improvements via banking channels, with further efficiencies expected over the next few years.
Overview by Ed O’Brien, Director, Banking Channels Advisory Service at Mercator Advisory Group
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